Web giant hoping to expand Chinese company worldwide
Google has made inroads into the Chinese eSports market by investing in Beijing-based mobile game live-steaming platform Chushou. Chushou, founded in 2015, touts 250,000 livestreams and 8 million streamers daily. Google said in a statement that it will help the Chinese company expand its services and grow its base of overseas viewers.
So far, the number of mobile gamers in China is nearly double the number of people in the U.S., so Chushou definitely has the potential to become a proper Twitch competitor.
By investing in Chushou, the United States company is also eyeing China's US$24.4 billion gaming market, one of the fastest growing industries on the mainland.
In February previous year, media reported that Google was in talks with NetEase, China's second-largest operator of online games, to form a venture to launch Google's app store in China.
Ponting to coach Delhi Daredevils in IPL
He was also appointed as the assistant coach of Australia for the T20I series versus Sri Lanka a year ago . Hemant Dua, the chief executive of Delhi Daredevils , made the announcement on Twitter on Thursday.
Cuts Holdings in Occidental Petroleum Corporation (OXY)
The oil and gas producer reported $0.18 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.11 by $0.07. The stock of Occidental Petroleum Corporation (NYSE: OXY ) has "Neutral" rating given on Wednesday, May 10 by JP Morgan.
Callon Petroleum (CPE) Downgraded by Citigroup to Neutral
Of those analysts, 14 rate stock as a Strong Buy, 2 rate it as Hold, and just no analyst rates it as a Moderate Sell. The high and low revenue estimates for the current quarter are $130.59 Million and $84.7 Million, respectively.
Google's inability to access China's large population of young, tech-savvy internet users poses a challenge for the firm whose search engine has expanded to become the world's largest and most ubiquitous.
Google's investments in Asia now span game livestreaming (Chushou), artificial intelligence (Mobvoi, also in China), task outsourcing (India's Dunzo) and hardware (HTC in Taiwan), while CapitalG (formerly Google Capital), the late-stage growth fund owned by Google parent company Alphabet, has backed high-speed optical transceiver manufacturer Innolight in China and several Indian startups, including Practo, Commonfloor and Cuemath.
Past year the firm began targeting China as a potential market to expand its AI offerings. The match was highly publicized in worldwide media but was not widely covered in local media.
As reported by TechCrunch, Google joined as an investor during a recent Series D funding round, which brought Chushou's total lifetime funding to $120 million.
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